
16. Churn, Retention, and Revenue: What Makes Customers Stick Around and Why That's Important
The Bootstrapped Founder
00:00
Introduction
On average, a 5% increase in customer retention leads to a 25 to 95 increase in profits. The moment your product does not solve the problem anymore, they will find another solution. Existing customers get used to the value you deliver and start expecting it. An automated email offering them a free month or discount can be dispatched that will allow you to reconnect with undecided customers.
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